MetLife Investment Management LLC Has $2.71 Million Position in STAG Industrial, Inc. (NYSE:STAG)

Posted by Defense World Staff on Feb 26th, 2023

MetLife Investment Management LLC increased its stake in shares of STAG Industrial, Inc. (NYSE:STAG – Get Rating) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,454 shares of the real estate investment trust’s stock after buying an additional 1,617 shares during the quarter. MetLife Investment Management LLC owned about 0.05% of STAG Industrial worth $2,714,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Eagle Bay Advisors LLC acquired a new stake in STAG Industrial during the second quarter worth approximately $27,000. SRS Capital Advisors Inc. boosted its holdings in shares of STAG Industrial by 2,252.3% in the 2nd quarter. SRS Capital Advisors Inc. now owns 1,035 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 991 shares in the last quarter. Wipfli Financial Advisors LLC acquired a new stake in shares of STAG Industrial in the 3rd quarter valued at $34,000. Ellevest Inc. boosted its holdings in shares of STAG Industrial by 742.3% in the 3rd quarter. Ellevest Inc. now owns 1,373 shares of the real estate investment trust’s stock valued at $39,000 after purchasing an additional 1,210 shares in the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of STAG Industrial by 32.0% in the 3rd quarter. Assetmark Inc. now owns 1,815 shares of the real estate investment trust’s stock valued at $52,000 after purchasing an additional 440 shares in the last quarter. Institutional investors and hedge funds own 85.21% of the company’s stock.

STAG Industrial Stock Down 0.9 %

Shares of STAG opened at $34.11 on Friday. STAG Industrial, Inc. has a 52 week low of $26.56 and a 52 week high of $42.49. The stock has a market capitalization of $6.12 billion, a price-to-earnings ratio of 34.11, a PEG ratio of 4.74 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.45 and a current ratio of 1.45. The stock has a fifty day moving average of $34.43 and a 200-day moving average of $32.39.

STAG Industrial Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, April 17th. Investors of record on Friday, March 31st will be given a dividend of $0.1225 per share. This represents a $1.47 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, March 30th. STAG Industrial’s dividend payout ratio is currently 147.00%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STAG. Wells Fargo & Company downgraded STAG Industrial from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $36.00 to $34.00 in a report on Tuesday, November 22nd. TheStreet raised STAG Industrial from a “c+” rating to a “b” rating in a report on Wednesday, November 23rd. BMO Capital Markets started coverage on STAG Industrial in a report on Monday, February 6th. They issued an “outperform” rating and a $41.00 target price on the stock. Finally, JPMorgan Chase & Co. increased their price target on STAG Industrial from $34.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $37.83.

Insider Buying and Selling

In other news, insider Benjamin S. Butcher sold 19,923 shares of STAG Industrial stock in a transaction dated Wednesday, February 22nd. The stock was sold at an average price of $34.69, for a total value of $691,128.87. Following the completion of the transaction, the insider now directly owns 7,088 shares of the company’s stock, valued at approximately $245,882.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 1.20% of the stock is owned by corporate insiders.

STAG Industrial Company Profile

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STAG Industrial, Inc is a real estate investment trust, which focuses on acquisition, ownership and operation of single-tenant, industrial properties throughout the United States. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.